Axalta Coating Systems Limited AXTA recently entered into definitive agreements to acquire U-POL Holdings Limited (“U-POL”) from Graphite Capital Management LLP and other holders. The acquisition is worth £428 million (roughly $590 million), subject to some adjustments. The acquisition is complementary to Axalta’s business and expands its presence in the important and growing mainstream and economy-based refinish segment as well as the consumer do-it-yourself aftermarket.U-POL is a leading producer of repair and refinish products used mainly for automotive refinish and aftermarket protective applications. It sells its products in over 100 countries and its leading brands include Raptor, Dolphin and Gold.Axalta is expected to ramp up growth of U-POL’s products by widening the market reach through its existing sales and distribution channels. It will also utilize U-POL's distribution channels to bring its Refinish Coatings portfolio to new consumers.U-POL’s production plant and R&D lab in Wellingborough, England will enhance Axalta’s ability to serve consumers worldwide. The buyout will enhance Axalta’s commercial, manufacturing and technology organizations.The transaction is expected to close in the second half of 2021, subject to clearance under applicable antitrust laws and other customary closing requirements.Axalta expects to realize significant operating and commercial synergies across the combined global businesses. Expected annual operating synergies and efficiencies of roughly $10 million are expected to be fully realized within 18-24 months of closing. U-POL projects net sales of roughly $145 million and adjusted EBITDA of around $38 million for fiscal year 2021.Shares of Axalta have gained 36.1% in the past year compared with 13.6% fall of the industry.Image Source: Zacks Investment ResearchAxalta will benefit from cost savings through the implementation of its global restructuring initiative (including streamlining of workforce) and other cost-reduction actions in response to the pandemic. Improving global traffic volumes and continued easing of restrictions are likely to aid its refinish business. The recovery in global automotive production augurs well for the company’s mobility coatings business.Axalta Coating Systems Ltd. Price and Consensus Axalta Coating Systems Ltd. price-consensus-chart | Axalta Coating Systems Ltd. Quote Zacks Rank & Other Key PicksAxalta currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks in the basic materials space are Nucor Corporation NUE, Olin Corporation OLN and Cabot Corporation CBT.Nucor has a projected earnings growth rate of around 386.2% for the current year. The company’s shares have surged 143.3% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Olin has an expected earnings growth rate of around 506.7% for the current year. The company’s shares have skyrocketed 300.7% in the past year. It currently carries a Zacks Rank #2.Cabot has an expected earnings growth rate of around 137.5% for the current fiscal. The company’s shares have surged 58.2% in the past year. It currently carries a Zacks Rank #2. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nucor Corporation (NUE): Free Stock Analysis Report Cabot Corporation (CBT): Free Stock Analysis Report Olin Corporation (OLN): Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA): Free Stock Analysis Report To read this article on Zacks.com click here.